5 Reasons why people are afraid to start a business

The name ‘Entrepreneur’ itself gives a sense of independence, achievement and more than anything it gives satisfaction. If entrepreneurship is such a good thing to happen in anybody’s life so why not we all are entrepreneurs? Why we have a handful of people to dare to step into this arena?

Here are the top 5 reasons why people are afraid:

1.       The History:

History of entrepreneurship is the biggest source of insecurity in the minds of prospective entrepreneurs.

Many researches have proved that most of the startups are tend to fail and will fail. Such data and numbers create more threat and risk of failure in the minds of people and ultimately they refrain trying.

2.       The Economic condition:

Is it the right time to start something of your own? Infact this is the wrong question to ever ask. There is no good or bad time to start. Remember, though, that there is no single entity called “the economy.” What is loosely referred to as the economy is really just the vast, interconnected web of buyers and sellers accommodating each other through the market and price system.

3.       The Finance:

The 3rd biggest challenge which refrain people to start business of their own is Finance. How your business will survive for next 2 years? Do you have money to self fund? Are you willing to take that risk? Do you have angel investors/VCs interested in your company? Are you okay with the terms and conditions of VCs?

There are 100 such questions and we can say problems when we talk about finance. People who don’t need finance are the experienced cash cows and youths with great energy and ideas are often suppressed with above mentioned questions.

4.       Family:

Are you really gonna quit your 15lakhs job and shares and security and leisure for this stupid nothing?  We helped you get these degrees for this nothing? What are we getting in return.

Yes these are the most probable reactions on the family members of people who dare to take a step ahead.

And yes, family matters. You can’t achieve anything without their support. Family pressure makes you weak.

5.       Will:

Finally comes the will power. Person can overcome all above challenges if he has strong zeal and will power. If a person wants to be an entrepreneur but doesn’t want to come out of comfort zone, want minimum work hours, health insurance, income security, worries about what people will say etc etc then surely he is not meant to be an entrepreneur.

And most of us lack that will. Entrepreneurs are the future of any country; they have immense energy, brilliant ideas for a better tomorrow. Hope to see them coming out of their shells of insecurity and illusion and hope to see them making a difference.

You may also like: